In which country did the 1873 Panic begin after the Vienna Stock Exchange crash?

The 1873 Panic began in Austria-Hungary after the Vienna Stock Exchange crash.

The Vienna market collapsed on May 9, 1873, a day remembered as Gründerkrach, or “founders’ crash.” A speculative boom had encouraged investment in companies, railways, and property. When confidence broke, prices plunged and many newly created enterprises failed.

The shock spread through interconnected financial markets. Later in 1873, the failure of the banking firm Jay Cooke & Company helped trigger a major panic in the United States. The resulting downturn affected Europe and North America and contributed to a long period of weak prices and slow growth often called the Long Depression.

The episode is sometimes described as beginning in Germany or the United States because its consequences were especially severe there. The specific stock-market rupture named in the question, however, occurred in Vienna, then the capital of the Austro-Hungarian Empire.